The invention provides novel environment friendly printing ink and a manufacture method and application thereof. The novel environment friendly printing ink is prepared from the following raw materials (by weight): 26-32 parts of vinyl chloride-acrylate copolymer resin, 3-4 parts of methyl methacrylate, 3-9 parts of acrylic resin, 4-7 parts of acetyl tributyl citrate, 10-13 parts of butanol and octanol, 0.3-0.6 part of 2-thiolbenzimidazole, 0.4-0.7 part of diazolidinylurea, 1-4 parts of attapulgite, 0.6-0.9 parts of ammonium persulfate, 0.5-0.8 part of chitosan, 2-3 parts of palm oil, 3-5 parts of organic pigment, 4-6 parts of an auxiliary agent and a proper amount of water. The product has advantages of low cost, diversification of functions, antibiosis, high temperature resistance, high hardness, wear resistance, chemical corrosion resistance, fast drying speed, good printing adaptability and the like. The preparation method is simple, is convenient to operate, and has strong practicability.